AAPL : downgraded to Underperform by Jefferies; PT cut to $263.66 from $285.56 Jefferies downgraded Apple to Underperform from Hold and cut its price target to $263.66 from $285.56, implying 16% downside. The firm says supply-chain checks indicate Apple’s all-glass iPhone planned for September 2027 has been canceled due to production yield issues. Jefferies also cut FY2028 and FY2029 EPS estimates, citing the setback and rising memory costs.(*Walter Bloomberg)